Rates and fees verified as correct at 04 December, 2020. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Secured Personal Loan (Fixed)|| |
8.60% p.a.based on $30,000
|Secured Personal Loan (Variable)|| |
13.81% p.a.based on $30,000
|Unsecured Personal Loan (Fixed)|| |
11.49% p.a.to 19.99% p.a.
12.57% p.a.to 21.02% p.a.based on $30,000
|Unsecured Personal Loan (Variable)|| |
12.99% p.a.to 19.99% p.a.
14.06% p.a.to 21.02% p.a.based on $30,000
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.
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Fixed or variable rate car loan:
Do you need a personal loan so you can dump your car in the scrap heap and replace it with a new or second-hand ride? If you’re nodding in agreement, the BankSA car loan could be for you. With the option to choose a fixed or variable version and chance to lower the rate even more by securing the car to it, this BanksSA loan is a strong contender. Many providers have minimum car loan amounts of $5,000, but if you only need $3,000 for a car, this loan could make that happen. BankSA lets you pick a loan term from one to seven years on the variable rate type, and one to five with the fixed version. Like many car loans around, you’ll need to factor in a small monthly account-keeping fee and initial signup cost on top of your loan repayments. Unique features applicable to the variable rate type loan include optional extra repayments and a redraw facility to an approved amount. While the fixed rate version of the BankSA car loan doesn’t have these features, you might prefer the slightly lower rate.
Line of credit loan:
It can be hard to put a price on things like weddings or home renos where the full cost of it all isn’t known until the end. That’s where a revolving line of credit loan can come in handy like the BankSA “Get Set” loan, which involves setting up a credit limit between $5,000 to $50,000. While there is a higher than usual variable interest rate attached, you only need to pay interest on the balance, rather than credit limit. BankSA has a handy mobile banking app and website so you can access funds 24/7. Repayments involve a monthly minimum of $50, or 1.25% of the total amount owing plus the monthly admin and interest rate charges, whichever is higher. While there is an initial signup fee and ongoing monthly costs when you take out a Get Set loan, it has no expiry date or exit fee.
Fixed or variable rate personal loan:
Whether you’re dreaming of a holiday or marble water feature for the garden, the BankSA unsecured personal loan could help get you there. From small loan amounts of $3,000 up to $40,000, you can choose between a fixed or variable rate. Just like the BankSA car loan mentioned above, the variable rate type allows for extra repayments and has a redraw facility with a minimum amount on loan terms from one to seven years. On the other hand, the slightly lower fixed rate guarantees repayments will stay the same over the one to five year term, which could be better suited to your budget. Remember to factor in an initial sign up fee and small monthly fees if you are considering this personal loan.
You can apply for a BankSA personal loan via the website or a South Australian branch. The bank’s friendly staff are always happy to help you along the process over the phone too, which can take only 15 minutes to get approved and have funds sent to your account.
To apply for a personal loan with BankSA you will need:
Mozo users have rated BankSA personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
I have bank with BankSA since I was in primary school and have my home loan with them. So with no complaints I have always gone back to them.Read full review
I have bank with BankSA since I was in primary school and have my home loan with them. So with no complaints I have always gone back to them.
Excellent customer service they took me personally not just an inconvenience. This made me feel valued.Read full review
Excellent customer service they took me personally not just an inconvenience. This made me feel valued.